Very good news! Many market variables are strong while the markets are not exuberant.
November 2020 Newsletter
The Dow Jones is up 5.37%; S&P 12.77%, and NASDAQ 37.77% (as of 11-20-2020)
Very good news! Many market variables are strong while the markets are not exuberant. Whether the market goes up or down, the trading numbers are frequently low. It’s when many people are jumping in or out that we become concerned…not to get out but to reevaluate which investments we should be in.
Our accounts look strong and clients are happy with the growth they see. You do not have to worry about earning money short term if you have a long term plan. The current turmoil regarding the presidential election has not frightened the markets. As stated previously, the markets are not controlled by the President of the United States.
We celebrate Thanksgiving this week – a time for giving Thanks. The Pilgrims first celebrated Thanksgiving in 1621, President Washington made a Thanksgiving proclamation in 1789, and President Lincoln named the last Thursday in each November an official holiday. Today, many of us enjoy a 4-day weekend. Thanksgiving is an old and treasured tradition.
The Pilgrims faced many difficulties. They had limited food supplies and tough times continued as new arrivals joined them bringing no provisions and arriving ill. The Pilgrims were known for their kindness and care and shared the limited food they had. By 1623, the Pilgrims had replaced collective farming (which had been imposed upon them by their sponsoring company) with individual enterprise. Individuals became responsible for a parcel of land and soon the more industrious had excess to sell to others and everyone had more. This story of capitalism has been learned many times in many countries even though it does not necessarily suppress those who value socialism.
I am thankful for the rich who pay about 90% of the “budget” of the United States each year, and provide investments allowing us to become “rich” also. It is rewarding to hear people say they never expected to have the net worth they have acquired today – with the ability to pay for the things they value, and a sense of security. There is much to be thankful for.
We hope you enjoy the following article by Michael Medved: “What’s the Truth About the First Thanksgiving”.
Happy Thanksgiving to you! Please call if you want to set up a time to meet.
Louise Googins, and a great staff